Extreme Dangers of Cashless Society

[RealBitcoin]

Fiat Inflation is already causing most of these problems. The government manipulate inflation to serve their needs. So, if you use Fiat or some cashless system controlled by government, you are fucked either way. They print cash like toilet paper, and this kills the value of your cash.

If they apply this principle to some cashless system, where they have control over the generation of the currency token, then you would be totally fucked.

Bitcoin use real market dynamics with demand and supply and consensus systems to eliminate these threats. ^smile^

The difference though is that inflation robs everyone but this kind of system would only rob certain people.

SO they would use this to their advantage to control people, take the cash out directly from people's account IF THEY DO SOMETHING AGAINST THEIR WILL, and this way they buy their obedience.

And this can be done both by the government, as the bank, or even by a partner corporation.

Every corporation will scramble to have control over you, just like how many businesses sign you up to there stupid gift card programs, they will also sign you up to other "cashless" things where they will have the control over your money and not you.

Tyrany can be endless if you think about it.

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[European Central Bank]

It's probably the most corrosive thing that could ever happen to a society.

Check out the social credit experiment they're doing in China too.

The level of overbearing authoritarianism is about to go through the roof.

[franky1]

The difference though is that inflation robs everyone but this kind of system would only rob certain people.

SO they would use this to their advantage to control people, take the cash out directly from people's account IF THEY DO SOMETHING AGAINST THEIR WILL, and this way they buy their obedience.

And this can be done both by the government, as the bank, or even by a partner corporation.

Every corporation will scramble to have control over you, just like how many businesses sign you up to there stupid gift card programs, they will also sign you up to other "cashless" things where they will have the control over your money and not you.

Tyrany can be endless if you think about it.

hyperinflation does not rob everyone.... not at first
people on a fixed mortgage win... initially
the only problem is the banks lose out because the mortgage contract ends up only buying a loaf of bread.
people on a variable mortgage lose...
they end up having to pay ever increasing amounts. thus draining the person dry..

what then happens, which has been seen to have happen in africa(Zimbabwe) and the middle east(iraq/iran) in the past and isreal, syria right now) is the bankers then start a war, to force people out of their homes. (thank washington DC (IMF) for this)
the bankers then take the land and build new sparkling apartments to sell at profit.

check out all the new banks that were created in the middle east AFTER the bombs started striking those countries

you can see this happening now in isreal, syria. its a mass land grab. you can see what happened in zimbabwe and iraq/iran in the past.

the IMF will always win eventually

[RealBitcoin]

It's probably the most corrosive thing that could ever happen to a society.

Check out the social credit experiment they're doing in China too.

The level of overbearing authoritarianism is about to go through the roof.

Yes that is Orwellian, but I guess those communists there dont really care.

Oout of all of them, the EU seems to be the most reasonable, atleast the EU has some limited data protection laws.

Europe has learned a hard lesson with Hitler, atleast they dont want that to happen again.

The other countries dont even bother with such things.

[Ryan Dugan]

You forget something. Bitcoin was invested as a method of decetrwlzing from banks and government. Now do you really think people would not just create another currency and drop this phoenix you talk of ? People would resort to trade if this really happened. I would rather trade my chickens for bread then ise a bs payment system you speak of. Do you think people will just stand around and be treated that way ? You say a man won't be able to feed his family for a month. Now do you honestly think a man will stand by and let his family die ! Umm no, his and his families lives are under direct threat so civil war would break out and that man will kill for his family lytrally. Bands of people would get together and rebel. If you threaten someones life they will protect themselves.

There more people then the government and the government better remember that. If people are that unhappy they can turn the government over with ease.

[shamzblueworld]

Its too fictional/sci-fi to actually consider really, I don't think it will happen any time soon. And even if something similar happens in the far future, it will not happen all over the world, maybe some country or some part of the world but not on the entire planet. And Also whenever it happens, it won't stay for long, and will definitely collapse, the government and the system.

[European Central Bank]

Its too fictional/sci-fi to actually consider really, I don't think it will happen any time soon.

check out denmark and sweden. it's on the verge of happening for real not too far away from today. it'll certainly vary from culture to culture but it's what every authority wants.

[RealBitcoin]

Its too fictional/sci-fi to actually consider really, I don't think it will happen any time soon.

check out denmark and sweden. it's on the verge of happening for real not too far away from today. it'll certainly vary from culture to culture but it's what every authority wants.

Sweden will probably collapse under their retarded and irresponsible welfare system before that. Most people will get broke and homeless, so their bank account will be the least of their worries.

This will be problematic for people who have a little tiny bit of savings, but they want to steal that from you too.

[coinplus]

As per my understanding, a cashless society will finally find bitcoin more useful. Because for me, currently bitcoin is the best to payment processor compared to any e-currency systems, similarly after using any government suggested payment systems people will land on bitcoin adoption.

Moreover cashless society will not be possible for any country until achieving hundred percent awareness and importance of fighting against black economy and corruptions.

[European Central Bank]

As per my understanding, a cashless society will finally find bitcoin more useful.

a cashless society also makes every transaction trackable which means if they take against bitcoin you're likely to have some serious problems getting in and out of it unless it's all p2p.

[Superzpay]

Bitcoin is a means of freedom in financial system. Everyone know that there is already some restrictions even in cash society but due to bitcoin all of these restrictions are finished and none of the government can give any restriction to the bitcoin user.

[Meuh6879]

As per my understanding, a cashless society will finally find bitcoin more useful.

and it's true.

in my country, we have experiment 2 devaluations of the money (old franc and new franc = value divide per 10x and new franc and euro = value divide per 6.5x).

we know what is the destruction of a money.
that why old people have gold bar or gold coin.

for my generation, bitcoin is more acceptable in a computer world ... and my generation understand the principe of P2P (Bitcoin) ... more than the concept of streaming (Central Bank).

[MingLee]

As per my understanding, a cashless society will finally find bitcoin more useful.

a cashless society also makes every transaction trackable which means if they take against bitcoin you're likely to have some serious problems getting in and out of it unless it's all p2p.

You'd likely never be able to get "money" for Bitcoin, and it would have to be a medium of exchange that you sell things for, or work for, and lives in its own separate economy. There will likely never be any crossover again unless the government was to get weird and let people use it openly. If that doesn't happen, it is possible governments will freeze accounts due to centralized power and a desire for control.

[franky1]

anyone on for instance the american foodstamps debit card able to explain how this is administered. where its not meant to be allowed to 'cash out' and only meant to used to buy 'healthy foods'.?

do the social security office penalise foodstamp recipients by knowing whats bought. or is it up to the retailer to refuse service if someone using these unemployment debit cards if asked for alcohol and cigarettes using the card

i only ask as an example of a dystopian future where in a cashless society if alcohol prohibition was to return. how it would be stopped or worked around.

i already seen news of america not allowing deadbeat dads to renew their car licence/registration if they are flagged as not paying child maintenance.

[markw1]

"The powerful business lobby Wall Street banks (JP Morgan, Goldman Sachs) relayed by the World Economic Forum in Davos in 2016, sold two ideas to states and institutions like the EU: virtual currencies or cryptocurrencies (the best known is the bitcoin) and a cashless society." Marine Le Pen

No fan of this lady, but bitcoin has clearly been introduced as a pre cursor to a cashless 1984 society, we'll soon hear of it being used in some false flag funding and then central banks will look to offer a solution, conveniently introduced at the same time the funny money dollar is in a transition state of being replaced as the reserve currency of the world.

[RealBitcoin]

anyone on for instance the american foodstamps debit card able to explain how this is administered. where its not meant to be allowed to 'cash out' and only meant to used to buy 'healthy foods'.?

do the social security office penalise foodstamp recipients by knowing whats bought. or is it up to the retailer to refuse service if someone using these unemployment debit cards if asked for alcohol and cigarettes using the card

i only ask as an example of a dystopian future where in a cashless society if alcohol prohibition was to return. how it would be stopped or worked around.

i already seen news of america not allowing deadbeat dads to renew their car licence/registration if they are flagged as not paying child maintenance.

It's probably controlled by the retailer by law, probably.

There is a similar scheme where I live, where you can only buy food and groceries with these food tickets. Now of course they were tickets before but they are now rolling out debit cards for it.

So how it works, is that you go into a supermarket and the cashier guy can only count the food products for that ticket (no beverage and no tobacco of course), for example:

You buy 5 beers for 10 euro, 1 kilogram of apple for 3 euro and 1 frying pan for 15 euro, in total you pay 28 euro, and if you have a 10 euro ticket, you can only deduct 3 euros and the rest you have to pay with currency, and then you are forced to buy another 7 euros worth of food, since the other items are not deductable, and you cant get the rest in cash, its not allowed.

So you cant swap the tickets for cash, nor you can buy alcohol , tobacco, and other prohibited consumable goods for it.

Now of course most people dont give a fuck and they regularly swap the tickets for cash, but it's just that the supermarkets are not allowed to do.

However after they roll out the debit cards, and probably make it mandatory, it's game over, now the rule is enforced 100%, because the bank will just simply not allow those products to be bought. Maybe the bank database will be linked with the merchant database ,and the bank will filter out prohibited items by product code.



I suspect it works like this in the USA as too, it's a similar scheme.

[LovelyPrey]

That's sheer wild imagination, this won't ever happen. But I do understand your concerns on a cashless world are legit. I personally do not support it, cause the system is not at all secure to make sure they can prevent hacks, the system is easy to hack and compromise. It needs more to be upgraded and it needs to be implemented well and as well as the government approval given. Bitcoin you can say is our Knight in Shining armour, and it is helping us as a new Avenue of investment,earning money, plus even giving us high profits to stand on our own. I do see if it rises some countries shall adopt it by 2025 at least but it would be hard though.

[virasog]

That's sheer wild imagination, this won't ever happen. But I do understand your concerns on a cashless world are legit. I personally do not support it, cause the system is not at all secure to make sure they can prevent hacks, the system is easy to hack and compromise. It needs more to be upgraded and it needs to be implemented well and as well as the government approval given. Bitcoin you can say is our Knight in Shining armour, and it is helping us as a new Avenue of investment,earning money, plus even giving us high profits to stand on our own. I do see if it rises some countries shall adopt it by 2025 at least but it would be hard though.

Being cashless will promote government based apps and currencies, like in India they are promoting paytm so not really there will be a promotion of bitcoins. But still cashless society will have some cash even at the backend as you cant vanish Fiat from everywhere like villages etc.